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- Swiss Manufacturing PMI jumps to 26-month high
Swiss Manufacturing PMI jumps to 26-month high
The
seasonally adjusted purchasing managers' index for the manufacturing sector
climbed to
Economists
were looking for a reading of 52.4 for July. The latest score was the highest
since May 2011, data showed.
Driving the
pick up in activity, new orders placed with Swiss manufacturers increased
further in July, and at the fastest pace in around two years. In line with the
upturn in new business, production growth also accelerated to levels last seen
around two years ago.
At the same
time, supplier delivery times increased and stocks of finished goods decreased,
reflecting higher production capacity utilization. Responding to the increase
in activity, Swiss goods producers halted their cutbacks in workforces, the
survey showed.
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